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Reference: CY0317L

BISTRO IN NICOSIA OLD TOWN
 
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Business Type: Bistro
Location: Nicosia Centre, Nicosia, CYPRUS 
Type of Tenure: Leasehold
Business Reference: CY0317L
Asking Price: € 300.000
Annual Turnover 300000
Gross Profit Margin 80%
Reason for Sale Other Businesses
Full-time Employees 4
Part-time/Seasonal Employees 2
Internal Seating 32
Terrace Seating 44
 

Description

Bistro/Patisserie located in one of the most commercial pedestrianized streets in the Old Town of Nicosia with heavy foot traffic.

Owners are willing to discuss a partnership with persons who have experience in restaurant management.

Ambience and Cuisine

Compared to most food & beverage businesses in the Old Town this Bistro is dfferentiated with regard to the cuisine and quality. It enjoys a loyal, regular clientele but also attracts passers-by. It also has excellent exposure and reviews on travel websites and social media.

The menu and decoration combines elements of a Mediterranean-style Bistro, Delicatessen and Patisserie. Given the heavy foot traffic throughout the day, this establishment has something to offer to everyone, depending on the time of day: late breakfast, hot/cold beverages and sweets, light lunch or dinner, drinks and snacks. All sweets and savory snacks are prepared in their own kitchen, to control the quality and maximize profit, this establishment does not purchase from caterers.

The establishment therefore attracts clients all day and operates 7 days a week, from 10:00 am until late at night.

Premises

Frontage on the pedestrialized street is 8 meters and capacity inside is 32 persons, while 44 persons can be seated in the designated space outside. The outside seating area is secured by the relevant Municipality regulations against a nominal rent.

In addition, the owners of this business are putting the finishing touches on a new Roof Bar with capacity of 30 people. The Roof Bar will offer platters, drinks and music and will the only one of its kind in this area of the Old Town.

This professionally operated business has all necessary permits & licenses (Town Planning, Building Permit, Cyprus Tourism Organizatio license, Drinks license) while parking has been bought out from the Municipality.

It is noted that it is extremely difficult to obtain a new license for an F&B establishment in the Old Town.

Total investment so far in leasehold improvements, decoration and fit-out, parking lots exceeds €400.000, including the new Roof Bar.

Viability

The excellent location and good reputation of this establishment ensures the contiued profitability of the business regardless of who the Owner/Manager is.

The business employs full-time 2 persons in the kitchen (3 on weekends) and 2 persons on the front plus the Owner/Manager.

Annual Turnover is about €300.000 with a high Gross Margin of 80% due to the high percentage of drinks, snacks and sweets sales. Income from the new Roof Bar is not included yet. Sweets and snacks are proprietry recipees and prepared in the establishment’s kitchen, nothing is bought from outside caterers.

Owners can present detailed accounts to seriously interested buyers.

 

Photos

  • The present business is offered for sale by DealMasters.  Any information downloaded or printed is intended strictly for private use by you as a Registered User of our web-site; it may not be copied, published or distributed in any manner. 
  • You are advised that this is a confidential sale, therefore no direct approach to the business owners or business premises should be made and all viewings should be arranged through DealMasters. 
  • Prior to disclosure of the identity of the business and/or its owners, business financials and other operational details, interested parties will sign the standard Confidentiality Agreement, which can be downloaded here or sent to you by fax upon request.
  • We do not perform any due diligence on businesses for sale, business owners, or the information provided by them.  Such information is passed on by us without any guarantee or responsibility. Interested Buyers are strongly urged to perform thorough due diligence prior to acquiring a business
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